For the full fiscal year 1999, we are targeting earnings growth with more promising prospects evident by the year's second half. Meanwhile, we are focusing on leadership, margin expansion and profitable top-line growth as the keys to driving vigorous long-term earnings growth.

Our company has weathered one of the most difficult quarters in history, marked by recession and war. The remainder of the fiscal year should benefit from operating improvements currently under way, as well as favorable trends for some of our most important products and brands.

Operation Overdrive contributed to our double-digit earnings growth in every quarter of this fiscal year,

We are seeing a different environment and performance in the second half of the fiscal year compared to the first half, ... Some of the issues that negatively impacted our third quarter will continue to impact the remainder of our fiscal year. We, like many other companies, are watching the effect of a softening economy on our business.

We've seen customers in our industry aggressively reducing inventory balances, so shipment, sales and profits were lower than would be suggested by improved consumer purchases of our products.

You have to be fast on your feet, ... These people still have to eat.